Over 10 overseas firms to sign letters of intent to invest in Taiwan

The officials made the remarks in an interview with Central News Agency.

The firms, including multinational businesses, mainland Chinese enterprises and Taiwan firms operating in China, will sign the letters of intent during the “Invest in Taiwan Summit,” billed by the government as the first business solicitation conference to be held after the passage of the cross-strait economic cooperation framework agreement or ECFA.

The conference will be held on Sept. 21, on the eve of the passage of the historic trade pact by the Legislative Yuan around Sept. 24, the officials said.

According to the MOEA officials, the government has invited over 500 businesses, including those from overseas and China, to attend the conference.

MOEA officials will speak about post-ECFA business opportunities at the event, and will ask guests to talk about their experience investing in Taiwan, they said.

Minister of Economic Affairs Shih Yen-shiang will deliver a keynote, showcasing Taiwan's commitment to soliciting investments from overseas. The event will also feature speeches by Lin Hsin-hsiu, executive director of Mizuho Corporate Bank, and Tu Ying-tsung, chairman of Citibank Global Markets Taiwan, about their insights into Taiwan's new strategic position in the Asia-Pacific as well as its business opportunities, in the post-ECFA era.

The 10-plus overseas firms signing letters of intent will set up manufacturing facilities and research and development centers on the island, the officials said.

According to MOEA officials, Taiwan has become an Asia-Pacific logistics center, given its strategic location in the region.

China, at the same time, has enjoyed overwhelming economic growth and has become the locomotive of the global economy. The officials said that the positive effects of signing the ECFA and launching cross-strait flights have already emerged, making Taiwan more attractive to overseas investors.

ECFA is in essence a free trade agreement between Taiwan and China, in the absence of formal diplomatic ties.

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